Risk assessment of international construction projects using the analytic network process

In this study, an analytic network process (ANP), which can handle the interrelations between risk related factors, is proposed as a reliable technique for measuring the level of risk associated with international construction projects. Within this context, ANP is used to derive the relative priorities of risk factors as an input to a decision support tool, which can be utilized during bidding decisions. The decision support tool may help a decision maker to estimate the level of risk so that alternative projects may be ranked with respect to their risk levels and appropriate contingency values may be defined after a bid decision is given. The tool has a database in which risk information of the rated projects can be stored for future use. The reliability of the tool was tested on eight real cases and satisfactory results were achieved in estimating the risk level.


Project appraisal and selection using the analytic network process
Dikmen Toker, İrem; Birgönül, Mustafa Talat (Canadian Science Publishing, 2007-07-01)
Where prioritization and selection process of large-scale construction projects is concerned, governments should consider various quantitative and qualitative criteria when choosing the best project alternative. The traditional benefit-cost (B/C) analysis has some drawbacks in terms of analyzing qualitative attributes that cannot be easily expressed in monetary terms. To eliminate this limitation, multicriteria decision-making techniques are proposed for the solution of project prioritization problems. In t...
Comparison of experienced and novice cost estimator behaviors in information pull and push methods
Kiziltas, Semiha; Akinci, Burcu; Gonzalez, Cleotilde (Canadian Science Publishing, 2010-02-01)
Construction cost estimators mainly use analogy-based decision-making processes while estimating activity production rates in new bids They need to search information items that will help them in understanding the differences and similarities between the current and previously Completed projects to select appropriate production rates and make necessary adjustments to the selected production rates. The objective of the study is to understand the effect of information pull-push methods on the behaviors of cos...
An analytic hierarchy process based model for risk and opportunity assessment of international construction projects
Dikmen Toker, İrem; Birgönül, Mustafa Talat (Canadian Science Publishing, 2006-01-01)
Risk assessment of international projects is a complicated task because of the sensitivity of project success related to country specific risks as well as project risks. Decision makers face the difficulty of weighing project opportunities against risks and determining attractiveness of projects while giving bidding decisions. The aim of this paper is to propose a methodology for risk and opportunity assessment of international projects. The proposed model uses an analytic hierarchy process for calculation ...
Assessment of overtopping reliability and benefits of a flood detention dam
Yanmaz, Ali Melih (Canadian Science Publishing, 2008-10-01)
There is a growing tendency to assess safety levels of existing dams and to design new dams using probabilistic approaches according to project characteristics and site-specific conditions. This study is a probabilistic assessment of the overtopping reliability of a dam, which will be designed for flood detention purpose, and will compute the benefits that can be gained as a result of the implementation of this dam. In a case study, a bivariate flood frequency analysis was carried out using a five-parameter...
Development of a risk management decision support system for intarnational construction projects
Arıkan, Arif Erdem; Dikmen Toker, İrem; Department of Civil Engineering (2005)
It is agreed upon by many researchers that, although risk management (RM) is accepted as one of the critical success factors for construction projects, project participants generally do not have sufficient knowledge pertinent to risk management concept and the number of risk management support tools which facilitate the process is rather low. In order to facilitate risk management activities, decision support tools that will enable risk identification, analysis and response strategy formulation should be de...
Citation Formats
A. S. Bu-Qammaz, İ. Dikmen Toker, and M. T. Birgönül, “Risk assessment of international construction projects using the analytic network process,” CANADIAN JOURNAL OF CIVIL ENGINEERING, pp. 1170–1181, 2009, Accessed: 00, 2020. [Online]. Available: https://hdl.handle.net/11511/40458.